When a power tool (e.g., an impact driver, a screwgun, a drill, a hammer drill, or a screwdriver) is utilized to drive fasteners, such as screws or nuts, into a workpiece, a large driving torque (e.g., approximately 500 inch-lbs) may be generated. In certain situations, such as with use with an impact driver or hammer drill, that torque may be generated in rapid cycles (e.g., approximately every 2 milliseconds). Due to the large driving torque and the rapid cycling, current tool bits (e.g., screwdriving bits) and/or tool holders often fail when used with these types of power tools, especially with impact drivers. This may be due to the fact that the tool bits and tool holders often have a lower torque rating (e.g., approximately 200 inch-lbs) than the torque rating of the power tool. It would be desirable to have a tool bit and/or a tool holder that can withstand the torque loading of such power tools in these situations.